I'm a bit concerned by the proposed strategy of acquiring a near-term cash flow project. This smacks of desperation to me.
Is it at all likely that a junior with almost no cash can pick up an affordable little money spinner that its owners want to get rid of and that the rest of the market has overlooked? Wouldn't everybody do that if it was that simple?
I'd prefer it if they could turn their existing projects into a success for shareholders, but I can see that there limits to what they can do at the moment, with a deal on Los Calatos as distant as ever and a pending Tribunal decision on Mollacas that could go either way.
Near-Term Cash Flow
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